Before I rant, I know I should be happy that gas isn't $4 a gallon anymore, but I was getting pretty used to plummeting prices.  So I'm spoiled, but our gas prices jumped some 20 cents in the last two or three days from $1.39 a gallon to $1.59.  Did OPEC cut production?  Anyone know why?

RW?

Israel and Hamas have made crude go up some, but not 20 cents per gallon for gas higher....    :-/

Im a bit ticked too. Ours were circling from 1.49-1.59 for awhile and then BAM 1.79. Its now down to 1.74 here and hopfully goes back down soon.

I noticed that as well this AM as I headed into work.  The conspiracy side of me (too much X-files) says kind of ironic they plummeted before Christmas with all the bad economic news, and now coming back up after the gift buying season.  I sure hope it stays where its at.  Last thing we need is skyrocketing gas prices.

It went from $1.49 to $1.84 in 2 weeks.... >

Hasn't changed here.  Still in the 1.33-1.40 range

It's called price gouging, they do it every Christmas, Thanksgiving,Fourth of July, as well as the entire period between Memorial and Labor days. These are the same time people drive the most, so these are the reasons just check one, that's what the big oil companies do anyway

1. More people driving, we can't meet the demand

2. Change of seasons and we don't have enough of the Summer/winter blend available

3. Refinery issues

4.Mid East Issues

5. Or the truth; THIS QUARTERS DIVIDNEDS ARE GOING BE ROCKIN!

OPEC has cut production and the situation in Gaza has exploded into

full-blown war. However, oil remains under $50 a barrel because of

weak demand and a glut of inventory literally floating around in

tankers.

Gasoline prices here have jumped up to $1.54, but with my grocery

card discount, I'm still paying less than a dollar.

8-)

Hey RW; Does the actual price of a barrel or the preception of what will happen to supply cause more of an effect at the pump?

"Perception" effects the price of a barrel, but that cost is what

directly impacts prices at the pump. Erratic movement, like we

see around holidays, is more sinister and has little "economic

cost" basis. It seems like prices are raised when the distributors

can get away with it!  

8-)

1.43 to 1.59  in one day.

It's called price gouging, they do it every Christmas, Thanksgiving,Fourth of July, as well as the entire period between Memorial and Labor days. These are the same time people drive the most, so these are the reasons just check one, that's what the big oil companies do anyway

1. More people driving, we can't meet the demand

2. Change of seasons and we don't have enough of the Summer/winter blend available

3. Refinery issues

4.Mid East Issues

5. Or the truth; THIS QUARTERS DIVIDNEDS ARE GOING BE ROCKIN!

You know I would have expected that just before or within a day or two of Christmas, but this happened over the weekend (perhaps supply is low from holiday driving?).  I don't mean to complain, but saving some 50-60% or more on gas over the last couple of months has really helped our budget.  I'd like for it to continue.

RW-  I didn't think about the Gaza incident.  Maybe things will level off soon.

I would be excited with 1.53 gas. I am in Japan, gas was 4.06 for the longest. About 3 weeks ago it dropped to 2.33/gal.

Price gouging doesn't exist. :-X

Didn't I hear somewhere the taxation on gas is going up? Or has that law have not passed yet?

Didn't I hear somewhere the taxation on gas is going up? Or has that law have not passed yet?

The idea was just thrown out there, but went over like a turd in a punchbowl.

8-)

kind of ironic they plummeted before Christmas with all the bad economic news, and now coming back up after the gift buying season.

Being an X-File fanatic myself, this is my theory as well. Drastically drop prices before Christmas, people will have more money to spend, right after Christmas create some 'issues' and jack the price back up. Freakin' crooks!

The high gas prices in the past couple years has a lot to do with this whole mess we're in right now.

Didn't I hear somewhere the taxation on gas is going up? Or has that law have not passed yet?

The idea was just thrown out there, but went over like a turd in a punchbowl.

8-)

LOL, I use that analogy all the time.  Its a head turner. ;D

The high gas prices in the past couple years has a lot to do with this whole mess we're in right now.

I wouldn't blamed gas price if I was you. Look our economy is built on a cycle. It has to rise and fall.

Read a book called "A demon of our own design"  By Richard Bookstabber.

Every decade our market just has to crash. Wall street built some complex financial products that just seem to keep crashing.

http://www.amazon.com/Demon-Our-Own-Design-Innovation/dp/0471227277

Price gouging doesn't exist. :-X

Didn't I hear somewhere the taxation on gas is going up? Or has that law have not passed yet?

Don't worry. They'll figure out some way to get more money out of you.  I've read where, Washington state, I believe, is considering a mileage tax.  Since fuel efficient cars and electric hybrids won't be purchasing enough gas to fund road projects, they need to find an additional source of revenue. Have you noticed, every time we conserve or save, we get punished?  

Oil is down over 11%.  

. Have you noticed, every time we conserve or save, we get punished?  

It doesn't matter. Anything that wants to get sold in our country must be taxed. Taxation is what we need for civilized society, but some tax are outrageous while some are necessary and government spending is ridiculous.

Also in the wake of Bernard Madoff scandal, a wall street investor defended his case by stating social security is also a ponzi scheme.   LOL. Not trying pour gasoline onto a fire here, but pointing out the pointless.  

Oil fell 5.85 over news the nations reserve was up over 6 million gallons. They were expecting a jump of over 1.5 million gallons when in fact it was over the 6 million mark. Guess there are a lot more people riding bikes than thought.

Gas here has increased to the mid 1.50s in the last week, but fell .08 overnight.